KTM Increases 2010 Profits Projections
As the 2010 business performance in Sept. and Oct. exceeded expectations, KTM expects an EBIT between 28 and 29 million EUR (37 to 38 million USD) at the end of the business year.
As part of the long-term strategic orientation of the KTM-Group the mandate of Mr. Stefan Pierer as Chairman of the Executive Board of KTM-Group was prematurely extended until Dec. 31, 2015.
Mr. Friedrich Roithner, CFO of CROSS Industries AG is appointed CFO of KTM Power Sports AG as of Jan. 1, 2011. Mr. Patrick Prugger resigns from the Executive Board as of Dec. 31, 2010 by mutual agreement.
With the most recent share purchases Bajaj Auto Ltd. increased its share in KTM Power Sports AG and now holds 38.08%; thus strengthening the strategic importance of the cooperation for both sides.
In 1951, the KTM started designing a motorcycle of its own and two years later the KTM R 100 production series was launched.
When it re-established itself in 1992, the KTM mission was to produce the world‘s best “Ready to Race” off-road motorcycles. The idea seems to be paying off.